The move shows that the board believes that the company’s stock is undervalued, but is likely to sway few who have lately punished the stock over concerns about St. Jude’s Durata ICD lead.

Between Oct. 1 and Nov. 29, the stock has fallen 20.2 percent to $33.69.

“This decision is clearly intended to communicate management’s confidence in light of the recent stock decline, but this statement alone may not be sufficient to ease accelerating concerns on Durata,” said David Lewis, a Morgan Stanley analyst in a research note Friday.

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By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.More posts by Author